Massachusetts Lottery

MALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Massachusetts, your state will take 5% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Massachusetts Powerball Jackpot/Cash Option for Sat Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(5%)	$12,135,000
Net Lumpsum Payment	$140,805,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$387,563	$4,535,404
2	$8,139,060	-$2,971,783 -$406,953	$4,760,324
3	$8,545,910	-$3,122,317 -$427,296	$4,996,297
4	$8,973,360	-$3,280,474 -$448,668	$5,244,218
5	$9,421,925	-$3,446,443 -$471,096	$5,504,386
6	$9,893,150	-$3,620,796 -$494,658	$5,777,696
7	$10,387,550	-$3,803,724 -$519,378	$6,064,448
8	$10,907,185	-$3,995,989 -$545,359	$6,365,837
9	$11,452,570	-$4,197,781 -$572,629	$6,682,160
10	$12,025,250	-$4,409,673 -$601,263	$7,014,314
11	$12,626,255	-$4,632,045 -$631,313	$7,362,897
12	$13,257,645	-$4,865,659 -$662,882	$7,729,104
13	$13,920,450	-$5,110,897 -$696,023	$8,113,530
14	$14,616,730	-$5,368,520 -$730,837	$8,517,373
15	$15,347,515	-$5,638,911 -$767,376	$8,941,228
16	$16,114,865	-$5,922,830 -$805,743	$9,386,292
17	$16,920,325	-$6,220,851 -$846,016	$9,853,458
18	$17,766,470	-$6,533,924 -$888,324	$10,344,222
19	$18,654,845	-$6,862,623 -$932,742	$10,859,480
20	$19,587,510	-$7,207,709 -$979,376	$11,400,425
21	$20,567,040	-$7,570,135 -$1,028,352	$11,968,553
22	$21,595,495	-$7,950,664 -$1,079,775	$12,565,056
23	$22,674,935	-$8,350,056 -$1,133,747	$13,191,132
24	$23,808,965	-$8,769,647 -$1,190,448	$13,848,870
25	$24,999,130	-$9,210,008 -$1,249,957	$14,539,165
26	$26,249,550	-$9,672,664 -$1,312,478	$15,264,408
27	$27,561,770	-$10,158,185 -$1,378,089	$16,025,496
28	$28,939,910	-$10,668,097 -$1,446,996	$16,824,817
29	$30,387,060	-$11,203,543 -$1,519,353	$17,664,164
30	$31,906,310	-$11,765,665 -$1,595,316	$18,545,329